BProtocol Foundation "Bancor" (BNT) Unregistered Tokens Case

W.D. Texas

Court

23-CV-00533

Case number

06/12/2017

Class period Start

05/11/203

Class period End

ANY INVESTOR/USER who suffered losses from BProtocol Foundation "Bancor" (BNT) unregistered securities can JOIN CASE!

On June 12, 2017, Bancor completed its ICO, raising a record $153 million through offering and selling unregistered securities in violation of federal securities laws.

On June 19, 2022, a spike in withdrawals triggered significant payment obligations to LP Program investors. 
Instead of making those payments, they unilaterally purported to “suspend” impermanent loss protection, which meant that withdrawing LPs incurred the very losses that Bancor had promised to “100% protect” against. 
The program also imposed additional severe haircuts on withdrawing LPs, initially without disclosing them at all, but instead simply failing to pay withdrawing LPs amounts they were indisputably owed under the terms of their investment in the LP Program. 
Investors lost tens of millions of dollars as a result. In many instances, the loss was catastrophic for the individual investor.
As a result of the alleged adverse actions and omissions, BNT Investors were seriously damaged.

Case Status

Attorney Investigation

Alleged Offence

Fraud,

Malpractice,

Negligence,

Breach of Fiduciary duty

Suspected Party

Directors,

Management,

Shareholder,

Influencer,

Hedge Fund

Security Type

Crypto Asset

Trade Direction

Long

Shock Event Date

05/11/2023

Filing date

05/11/2023

Collecting participants…

Bancor

Symbol

BNT-USD.CC